BCC Research Publishes a New Report on Global Generic Drugs Market
WELLESLEY, Massachusetts, February 5, 2014 /PRNewswire/ –
According to a new technical market research report, Global Markets for Generic Drugs
, from BCC Research (http://www.bccresearch.com), the global generic drugs
market was valued at nearly $270 billion in 2012 and is estimated at nearly $301 billion
for 2013. BCC Research projects the market to grow to $518.5 billion by 2018, and register
a five-year compound annual growth rate of 11.5% from 2013 to 2018.
Today, the pharmaceutical industry faces challenges and changes more radical than any
in the last half-century. The worldwide economic recession has profoundly impacted an
industry normally resilient to the usual ups and downs of commercial life marketplace.
Apart from the sometimes painful process of cutting costs and restructuring, the industry
has had to confront the reality of a fundamentally changing trading environment resulting
from an increasingly cost-conscious market.
Factors coming together to create an opportunity for an up-to date market analysis
include an increase in the demand for generics due to pressure to control healthcare
costs. At the same time fierce price competition in this area has put some companies in
difficult positions due to declining profit margins. The primary result has been a wave of
M&A activity, and the rise of “supergenerics” that offer added value as well as low
prices. However, not all traditional companies are positioned to exploit this trend.
Another major growth driver for the generics sector is the fact that several
blockbuster pharmaceutical brands are coming off-patent and are therefore open to generic
competition — a phenomenon widely known as the “patent cliff.” But the originator
companies are deploying formidable strategies to protect their franchise, including
marketing their own branded generics. In addition, with first-generation biopharmaceutical
products reaching the end of their patent lives, a whole new market field — biogenerics,
or biosimilars — is opening up for those generics companies capable of (or prepared to
buy into) the technological expertise required.
This technical market research report from BCC Research provides a detailed market,
technology, and industry analyses to help readers quantify and qualify the market for
prescription generic drugs
. Important trends are identified and sales forecasts by product categories and major
country markets are provided through 2018. These forecasts are based on industry sources
and a considered assessment of the regulatory environment, healthcare policies,
demographics, and other factors that directly affect the generic drug market. The wider
economic environment is also taken into account.
In addition, this report examines strategies employed by companies specializing in
generics to meet the challenges of this highly competitive market, while also summarizing
strategies employed by “originator” companies to forestall generic competition.
This report is designed to satisfy the information needs of a wide variety of
individuals involved in the generics marketplace, including company senior management
executives seeking to base their strategic decisions on the best available information on
market forces and trends. It is also aimed at managers and executives in marketing,
research, planning, and sales departments who need readable, comprehensive, and up-to-date
background on the marketplace in which they are operating.
Contact: Steven Cumming Additional Releases: http://www.bccresearch.com/pressroom Tel: +1-978-870-3345 Fax: +1-781-489-7308 Email: firstname.lastname@example.org
SOURCE BCC Research LLC